Bitcoin Withdrawals Surge as MEXC Reverses $3M Freeze After Community Outcry

In a dramatic turn of events, cryptocurrency exchange MEXC has unfrozen $3 million belonging to trader 'The White Whale' following intense community backlash. The funds were initially frozen in July 2025 over disputed algorithmic trading violations, with the exchange threatening legal action before reversing course. Public intervention by on-chain investigator ZachXBT proved pivotal in the resolution. Notably, Bitcoin withdrawals from MEXC surged 30-fold to 1,237 daily transactions in the aftermath, signaling heightened user activity and potential market reactions. This incident highlights the growing influence of community sentiment in crypto exchange operations and raises questions about platform governance. As of November 2025, the crypto community continues to monitor exchange practices closely, with Bitcoin remaining at the center of these developments.

MEXC Reverses $3M Freeze After Public Backlash, Bitcoin Withdrawals Spike

Cryptocurrency exchange MEXC has unfrozen $3 million belonging to trader 'The WHITE Whale' following intense community backlash. The funds were initially frozen in July over disputed algorithmic trading violations, with the exchange threatening legal action before reversing course.

On-chain investigator ZachXBT's public intervention proved pivotal. Bitcoin withdrawals from MEXC surged 30-fold to 1,237 daily transactions as the controversy unfolded, signaling eroding user trust.

MEXC's Chief Strategy Officer Cecilia Hsueh issued an unusually candid apology admitting operational failures. 'We fucked up,' Hsueh stated publicly, announcing new dispute resolution protocols to address growing pains from rapid expansion.

Bitcoin's Historical Trends Suggest Bullish November Following Rare October Decline

Bitcoin enters November with strong historical precedent, averaging 42.51% gains this month since 2013. This follows an unusual 5% October decline—the first negative performance for the month since 2018. The downturn interrupted a seven-year streak of October gains that had cemented its reputation as a favorable period for crypto traders.

The October selloff coincided with President Trump's announcement of 100% tariffs on Chinese imports, triggering $19 billion in crypto liquidations within 24 hours on October 11. bitcoin plunged to $104,782.88—a stark contrast to its recent all-time high above $126,000. Subsequent US-China trade negotiations showed tentative progress, with tariff reductions offered in exchange for Chinese concessions on fentanyl controls and agricultural purchases.

Macroeconomic tailwinds emerged as the Federal Reserve cut rates by 25 basis points and concluded quantitative tightening on December 1—developments historically correlated with Bitcoin price appreciation. Regulatory progress stalled however, as the ongoing US government shutdown delayed crypto ETF approvals and consideration of the CLARITY Act market structure bill.

Prenetics Expands Bitcoin Holdings to 378 BTC After $44M Equity Raise

Hong Kong-based health sciences firm Prenetics Global Limited has bolstered its Bitcoin treasury with the purchase of an additional 100 BTC at an average price of $109,594. The acquisition, executed shortly after an oversubscribed $44 million equity offering, brings its total holdings to 378 Bitcoin—valued at approximately $41 million at current market prices.

Major investors including Kraken, Exodus, and Jihan Wu’s GPTX backed the equity raise. The company now holds $127 million in total liquidity, split between $86 million in cash and its Bitcoin position, with zero debt. CEO Danny Yeung framed the MOVE as part of a "dual-engine strategy" combining health innovation with long-term Bitcoin accumulation.

Prenetics became the first healthcare company to adopt a Bitcoin treasury model earlier this year, introducing both strategic upside and new market risks to its balance sheet. The announcement coincided with its IM8 division reaching $100 million in annual recurring revenue.

MicroStrategy (MSTR) Stock: Wall Street's Enduring Confidence in Bitcoin Strategy

MicroStrategy now holds 640,808 BTC valued at $70.9 billion, acquired at an average cost of $74,032 per coin. Despite a 37% year-to-date stock decline, the company achieved a 26% bitcoin yield, nearing its 30% annual target. S&P's recent B-minus credit rating expands access to $4.9 trillion in institutional capital.

Analysts maintain bullish outlooks with price targets between $535-$705, viewing current weakness as temporary. The stock's mNAV multiple compressed to 1.2x - its lowest since early 2023 - while Q3 earnings of $8.42 per share surpassed estimates. A new tax-advantaged preferred stock structure could catalyze institutional demand by 2026.

Steak ‘n Shake Establishes Bitcoin Treasury and Launches BTC Burger Promotion

Steak ‘n Shake has taken a bold step into cryptocurrency by creating a dedicated Bitcoin treasury to hold all BTC payments from its restaurant sales. The fast-food chain's strategic reserve announcement, made via X on October 31, 2025, signals growing corporate adoption of digital assets.

The company reports tangible benefits from its Bitcoin integration. Payment processing fees have been slashed by approximately 50% compared to credit card transactions, while same-store sales surged 15% in Q3 2025—growth partially attributed to Bitcoin-adopting customers.

Nearly 400 U.S. locations now participate in a promotional campaign with Bitcoin services firm Fold. Customers purchasing the Bitcoin Steakburger or Bitcoin Meal can claim $5 in BTC through the bitcoinmealdeal.com portal. The chain is also donating 210 satoshis (roughly $0.23) from each Bitcoin Meal sold to the OpenSats charity initiative over the next year.

Elon Musk Announces X Chat: A Privacy-Focused Encrypted Messenger Rivaling WhatsApp

Elon Musk revealed plans to launch X Chat, a standalone messaging platform positioned as a secure alternative to WhatsApp and Telegram. The peer-to-peer encrypted service will employ a cryptographic model "similar to Bitcoin" and operate without advertising infrastructure. Musk emphasized the elimination of metadata collection, contrasting X Chat's approach with WhatsApp's practice of storing unencrypted backups and sharing user data across Meta products.

The announcement, made during Musk's appearance on The Joe Rogan Experience podcast, signals a strategic expansion of X's ecosystem. The messaging service will debut as both a standalone application and an integrated feature within the X platform, offering encrypted text and file sharing capabilities. Rollout is anticipated within months, marking another volley in the ongoing battle for digital privacy supremacy.